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Remittances and vulnerability in developing countries, Volume 1
Author:Bettin, Giulia; Presbitero, Andrea F.; Spatafora, Nikola; Country:World;
Date Stored:2014/03/20Document Date:2014/03/01
Document Type:Policy Research Working PaperSubTopics:Remittances; Population Policies; Debt Markets; Economic Conditions and Volatility; Access to Finance
Language:EnglishRegion:The World Region
Report Number:WPS6812Collection Title:Policy Research working paper ; no. WPS 6812
Volume No:1  

Summary: This paper examines how international remittances are affected by structural characteristics, macroeconomic conditions, and adverse shocks in both source and recipient economies. The paper exploits a novel, rich panel data set, covering bilateral remittances from 103 Italian provinces to 87 developing countries over the period 2005-2011. Remittances are negatively correlated with the business cycle in recipient countries and increase especially strongly in response to adverse exogenous shocks, such as natural disasters or large terms-of-trade declines. Financial development in the source economy, which eases access to financial services for migrants and reduces transaction costs, is positively associated with remittances. Conversely, recipient-country financial development is negatively associated with remittances, suggesting that remittances help alleviate credit constraints.

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